Qatar mulling Porsche investment

[Plex]

Following closely on the heels of Abu Dhabi�s 9.1 percent purchase of Germany�s Daimler, it has been revealed Qatar is �seriously� considering buying a stake in Porsche. Abu Dhabi�s state-owned Aabar Investment PJSC paid $2.72 billion to become Daimler�s largest individual investor last month.

According to Qatar�s Al-Arab newspaper, the Gulf state is currently looking to invest in several German automakers, including Porsche. Rumors of Qatar�s interested in Porsche first surfaced on Monday.

Qatar is reportedly interested in Porsche, along with other unnamed automakers, to spread some of its sovereign wealth. Like many other Gulf states, Qatar has amassed a healthy fortune from the export of oil.

The timing could be right for Porsche, too, as the German automaker is coming up on some pretty hefty bills. Porsche must pay off a debt of 3.3 billion euros next year and is currently seeking 2.5 billion euros to refinance 10 billion in current loans. Porsche is also preparing to up its stake in Volkswagen to 75 percent, which won�t exactly be a cheap venture.

It remains unclear exactly how much Qatar is looking to invest in Porsche.

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